Bitcoin crosses $100,000 milestone as incoming U.S. administration looks increasingly crypto-friendly

Bitcoin has achieved a historic milestone, breaching the $100,000 mark for the first time. This surge comes during Donald Trump’s return to the U.S. presidency, a political development many believe is indirectly tied to the cryptocurrency’s upward trajectory. The Trump administration's policies, particularly regarding economic reform, crypto regulations, plus wider potential fiscal uncertainties, have driven investors toward decentralized and inflation-resistant assets like Bitcoin.

Bitcoin surpassed its previous peak of $73,794 on November 6, the same day Donald Trump secured the presidency. Following this milestone, the cryptocurrency has surged continuously, reaching nearly $85,000 on November 11 which was an all-time high, representing a 15% jump from its last record and a 23% increase compared to its major high of $69,000 in 2021. From another perspective, BTC is approximately 40% more valuable than it was on the day that Trump became president-elect.

The milestone also underscores Bitcoin’s growing influence on the PC and tech industry, with ripple effects on hardware production and innovation. Bitcoin mining, the computational process validating transactions on the blockchain, once relied heavily on high-performance graphics cards. This reliance created an insatiable demand for graphics cards in the past, often leaving gamers and content creators grappling with supply shortages and soaring prices.

Thankfully, that PC enthusiast-impacting trend is highly unlikely to return. Thus, PC gamers and creators should no longer worry about shortages or rising prices from manufacturers like Nvidia and AMD due to fluctuations in crypto valuations. Innovations in mining hardware, such as dedicated ASIC chips, continue to advance, aiming to balance energy consumption with performance, making GPU mining an anachronism.

Bitcoin’s rise also aligns with broader shifts in global economics and technology. Its milestone reinforces the growing mainstream acceptance of cryptocurrencies as financial assets, prompting further integration of blockchain technology across industries. Simultaneously, it intensifies discussions around the environmental footprint of mining operations, spurring advancements in sustainable computing solutions.

While Trump’s presidency may be a catalyst for Bitcoin’s rise, the cryptocurrency’s success highlights the increasing interplay between financial markets and technology. As Bitcoin cements its status as digital gold, its influence on the PC industry and the broader tech sector will likely deepen, shaping the trajectory of both markets.